Millionaire next door

Discussion in 'Investor Psychology & Mindset' started by tomlemke, 28th Dec, 2015.

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  1. tomlemke

    tomlemke Well-Known Member

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    After reading this book it defiantly changed my perspective on the world, every time i see someone now in a fancy car or a nice suit i always wonder if these people are all show or are genuinely able to enjoying the fruits of success and not just trying to keep up with the jones.

    A guy i regularly chat to at the gym who is really down to earth, wears the same ripped singlet everyday drives a 10 year old hilux. He recently let it slip that he has 2 large developments nearing complition and just sold his ppor for 2.8m.
    This put a huge smile on my face as it was basically what the whole book was about.

    Would love to hear some other examples, how many millionaire next doors are on property chat?
    would your neighbours be shocked if they knew how much you were worth?
     
    tomlemke, 28th Dec, 2015
    #1
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  2. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    I try to help my 12 yo daughter understand this - her friends boast about their double story houses and she feels crap that our house is single story and half renovated. I asked her how many stories we have all together, and she felt much better then! But it's hard and an ongoing challenge to help her see that having lots of 'stuff' to show off is not the goal.
     
    Jess Peletier, 28th Dec, 2015
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  3. beachgurl

    beachgurl Well-Known Member

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    I know the school mums would be surprised. I rock up wearing whatever is clean, if I've been busy PM-wrangling my hair sometimes is unbrushed and pulled back and I wear thongs (the shoe kind). And I get out of my Hyundai compared to others who are in their Beemers and Audis. I'm not rich tho, but I'd say we're doing better than the average.
     
    beachgurl, 28th Dec, 2015
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  4. HUGH72

    HUGH72 Well-Known Member

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    I definitely relate to this and have had similar conversations with my 11 year old daughter.
     
    HUGH72, 28th Dec, 2015
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  5. Sonamic

    Sonamic Well-Known Member

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    Some people are "comfortable" with where they're at and don't need to flaunt it. Like somebody driving a 10 year old hilux while wearing a ripped singlet can be a multi millionaire, on the flip side someone driving a Bimmer wearing a suit can be broke. Each to their own.
     
    Sonamic, 28th Dec, 2015
    #5
  6. LifesGood

    LifesGood Well-Known Member

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    There's Flash Cash and there's Real Cash.
     
    LifesGood, 28th Dec, 2015
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  7. Biz

    Biz Well-Known Member

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    If the broke ass with the bmw died tomorrow he was the smart one ;)

    I'm all for delayed gratification is OK to a point but some people let it go on for too long. The way some people on here carry on you would think they are going to live to 150.

    Stash some away but splash some cash too peeps. Life is short don't deprive yourself of a good time.
     
    Biz, 28th Dec, 2015
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  8. MTR

    MTR Well-Known Member

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    Who cares seriously? Won't change my world or view on a person whether they drive a Porsche or holden, all to their own.

    Ask yourself why it matters?
     
    Last edited: 28th Dec, 2015
    MTR, 28th Dec, 2015
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  9. Coota9

    Coota9 Well-Known Member

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    Agree Biz..
    Also you can't take it with you and why would you want to leave it all to the kids anyway!!:D
     
    Coota9, 28th Dec, 2015
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  10. iDex

    iDex Well-Known Member

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    Yeah I think MTR is right, caring or worrying about other people's life won't do a lot for you. I've learnt recently is that it is best to concentrate on yourself (and family to some extent).
     
    iDex, 29th Dec, 2015
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  11. larrylarry

    larrylarry Well-Known Member

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    I want to run my own race.
     
    larrylarry, 29th Dec, 2015
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  12. Ed Barton

    Ed Barton Well-Known Member

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    What a pointless thread.
     
    Ed Barton, 29th Dec, 2015
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  13. Greyghost

    Greyghost Well-Known Member

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    This all comes down to perception and perceived value.

    Our culture has indoctrinated us like a bunch of sheep into thinking that having flash shiny things is good. The more Capitalist, materialistic shiny possessions you have makes you better than the next man..
    But who is to say that having a fancy car over an old one is better? It comes down to our value set.

    So yes I agree enjoying your money and not leaving it buried in the backyard or I when you are too decrepit to enjoy it is paramount, but enjoy it on the things tht make you happy, not what society tells you to enjoy it on.
     
    Greyghost, 29th Dec, 2015
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  14. Greyghost

    Greyghost Well-Known Member

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    What a pointless post!
     
    Greyghost, 29th Dec, 2015
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  15. pommy

    pommy Well-Known Member

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    Good luck! Many adults don't get that. Infact not having stuff frees up time. Half the square metres, one less car etc. will save hours in 'maintaining' let alone the $. Having said that not ready to live in a tent.
     
    pommy, 29th Dec, 2015
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  16. tomlemke

    tomlemke Well-Known Member

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    Guess old habits are hard to break, i would have to of gone close to spending the most on consumables this year.
     
    tomlemke, 29th Dec, 2015
    #16
  17. Bran

    Bran Well-Known Member

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    That's good to know ;)

    That's me on the left. I am known to have the worst car in the carpark of all three workplaces. My car even has its own instagram thread where people I know park their super cars next to mine and send me the photo - such as this one.

    Safety issues aside, most repairs can be made with the cost of one month's repayments.

    Screen Shot 2015-12-29 at 6.59.39 am.png
     
    Bran, 29th Dec, 2015
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  18. tomlemke

    tomlemke Well-Known Member

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    3:38am this thread must of really ticked you off :)
     
    tomlemke, 29th Dec, 2015
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  19. tomlemke

    tomlemke Well-Known Member

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    haha that is hilarious
     
    tomlemke, 29th Dec, 2015
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  20. keithj

    keithj Well-Known Member

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    It's a great book... I'd summarise it in 2 sentences.....

    Ordinary people can get to be millionaires when they realise that life is not about appearances.
    When smart people get to be millionaires they don't give a **** what well dressed, poor people think.
     
    keithj, 29th Dec, 2015
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